FED: US TSY 9Y-8M TIPS AUCTION: HIGH YLD 2.220%; ALLOTMENT 37.79%

• US TSY 2Y NOTE AUCTION: HIGH YLD 3.795%; ALLOTMENT 77.99%
• US TSY 2Y NOTE AUCTION: DEALERS TAKE 13.74% OF COMPETITIVES
• US TSY 2Y NOTE AUCTION: DIRECTS TAKE 30.08% OF COMPETITIVES
• US TSY 2Y NOTE AUCTION: INDIRECTS TAKE 56.18% OF COMPETITIVES
• US TSY 2Y AUCTION: BID/CVR 2.52

White House Press Secretary Karoline Leavitt is shortly due to brief reporters from the White House. LIVESTREAM

• At 16:30 ET 21:30 BST, President Donald Trump will participate in a White House ‘swearing-in’ ceremony for Securities and Exchange Commission chairman Paul Atkins, who formally assumed the seat yesterday.
• Trump said in a message on Truth Social after speaking with Israeli Prime Minister Benjamin Netanyahu earlier this afternoon: "The call went very well—We are on the same side of every issue," noting that the pair discussed "numerous subjects including Trade, Iran, etc."
• The Jerusalem Post reports that Trump is expected to meet with Qatari Prime Minister Mohammed bin Abdulrahman Al Thani during his Washington visit today. Al Thani is scheduled to meet with VP JD Vance and Middle East envoy Steve Witkoff to discuss Gaza ceasefire negotiations and Iran.
• Trump appears to be backing Defense Secretary Pete Hegseth, for now, amid another escalation in the controversy over his use of non-secure messaging services. NPR reported yesterday that the White House is looking to replace him. The White House rejected that report.
• NOTUS reports that some sources “are expecting more details about Hegseth’s conduct in the past month to come out this week.”

• RES 4: 1.1696 1.618 proj of the Feb 28 - Mar 18 - 27 price swing 
• RES 3: 1.1625 1.500 proj of the Feb 28 - Mar 18 - 27 price swing
• RES 2: 1.1608 High Nov 9 2021
• RES 1: 1.1573 High Apr 21 
• PRICE: 1.1480 @ 16:15 BST Apr 22
• SUP 1: 1.1383 Low Apr 21     
• SUP 2: 1.1140 20-day EMA     
• SUP 3: 1.0898 50-day EMA and a short-term pivot level     
• SUP 4: 1.0805 Low Apr 3  

The trend in EURUSD remains bullish and Monday’s cycle high reinforces current conditions and highlights a bullish start to this week’s session. The break higher maintains the price sequence of higher highs and higher lows and note that moving average studies are in a bull-mode position, signalling a continued dominant uptrend. The focus is on 1.1608 next, the Nov 9 2021 high. Key support is unchanged at the 20-day EMA, at 1.1140.